Key Market Indicators
Norway is set to import 2,479,200 kilograms of cobalt by 2026, up 1.3% annually from 2,292,200 kilograms in 2021. Since 1998, demand has grown by nearly 48% year on year. In 2021, South Korea overtook Norway as the largest importer, with Belgium, the US and Japan taking the next three spots. Exports of the mineral from Norway have decreased slightly since 2017, from 271 to 266 kilograms in 2018. This is a 1.9% decline on the previous year and a 53.5% fall since 1998. Norway ranked 46th in 2018, with Croatia taking the lead. The US, Russia and China followed in the next three spots.